In the ever-evolving World of the forex market, the epithet “Forex God” reminds you of stories of unbelievable success, forex traders who are a master of navigating this complex market and consistently generating outstanding profits.
If you are asking what is forex god, then it is better to change your question to: who is a Forex God? Do we really have forex gods whose trading ability shapes the landscape of the forex market?
This is a very attractive topic for all the traders in this intricate foreign currency market. Let us embark on a journey into the realm of trading legends in the forex market and unravel the mystery of the Forex God.
If you are interested, stay till the end.
What Does Forex God Mean?
At first, we have to get familiar with the features of the “Forex God,” and then define it. If we want to look back, this term was given to people who mastered their trading skills, and they had achieved chain success in this market.
But nowadays, the use of this word has decreased since this market is absolutely unpredictable, and it is loyal to no one. That is the reason that the “Forex God” nickname is not an official term in the forex industry, and it is not for specific and known traders.
Though it sometimes might be used to refer to a master and qualified trader who has achieved exceptional results. In the following part, we try to include the characteristics of these traders and see if we can become a Forex God! Yes, why not?
Let’s see the tips that forex gods use while trading.
Who Is a Forex God?
A forex god who has successful trading skills and nurtures it daily can be called a Forex God. Now let’s see what are these skills, and if everyone knows these, why all of the traders are not a god in the market?
The trading skills that are common amongst successful traders or Forex Gods:
- Having the capability to create a trading plan and, most importantly, stick to it, even in unstable or emotional situations.
- They know the potential risks of each trade and every position they open and try to implement the right trading tools to minimize risks. They also don’t let losses affect their judgment.
- The confidence won’t make them blind but also, they have the self-confidence and trust in their work and analysis.
- A forex God keeps up with the latest updates and developments that can or might impact the currency markets. They have a willingness to learn and improve.
- Forex gods know the essence of technical analysis, fundamentals, and, more importantly, risk management strategies.
- They look at the forex as a long-term market rather than gaining profits in one night.
- They have developed a sense of detachment from their previous trades and outcomes even though they had been a tremendous success.
Now that you know what features the Forex Gods developed to become great traders and gain this nickname, let’s see who are the Forex Gods in the real World.
Who are the best Forex Traders in the World?
If you search the question: “Who are the best traders in forex?” from the google, it provides 10 names in this order:
- George Soros: He has the most brilliant understanding of economic trends, and he is able to identify market inefficiencies. George Soros is one of the greatest investors in history.
- Bill Lipschutz: This guy is known for his phenomenal ability to make profitable trades in the foreign exchange market.
- Paul Tudor Jones: He is one of the richest traders in the World, with an appraised worth of more than $7 billion.
These were the three of the greatest and richest traders, so called Forex Gods, in this market. The other popular traders are:
- Stanley Druckenmiller
- Michael Marcus
- Alexander Elder
- Sandile Shezi
- Martin Schwartz
- Steven A. Cohen
- Edward Lomax
These top traders have developed the best mindset for forex trading, and that is the reason they are called the Gods of Forex.
Do you know what these mindsets are to develop and become successful in your way? It is only 4 tips: just be patient, keep discipline, avoid any distractions foc, us on your trade, be down to earth, and learn from your mistakes.
Take your knowledge further, our in-depth guide on “Can Someone Trade Forex for Me?” is just what you need!
To wrap it up
Gods of Forex recognize the fact that forex trading is a continuously developing market, and there are always more things to learn. That is why the top traders can achieve great success despite having lost, too.
In this comprehensive guide, we examined the essence of the term Forex God, and we looked deeper into the methods and skills that are common amongst successful traders. Which ability do you think they have developed more to become a god in this unstable market?
Do you look up to the top traders whose names are mentioned here?